Depreciation of Kwacha national disaster – Hamaundu

Financial Analyst Mambo Hamaundu says the continued rapid depreciation of the kwacha should be treated as a national disaster.

Mr. Hamaundu has told QFM News that there is an urgent need for the nation to reflect and plan well before the situation gets out of hand.
He states that it is worrisome that the country is unable to withstand the external shocks which he says calls for effective planning methods.

He notes that numerous appeals have been made to government to consider diversifying the country’s economy and stop the over dependency on the exportation of copper.

Mr. Hamaundu explains that for the past three days the kwacha has depreciated by 10 percent which is not a good indicator for an economy of Zambia’s magnitude.
He has since appealed to government through the Ministry of Finance to explain how they intend to deal with what he has termed as a national disaster.